First National Bank & Trust Co. of Newtown Sells 150 Shares of The Bank of New York Mellon Corporation $BK

First National Bank & Trust Co. of Newtown decreased its holdings in The Bank of New York Mellon Corporation (NYSE:BK) by 2.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,567 shares of the bank’s stock after selling 150 shares during the period. First National Bank & Trust Co. of Newtown’s holdings in Bank of New York Mellon were worth $598,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in BK. Leonard Rickey Investment Advisors P.L.L.C. lifted its holdings in shares of Bank of New York Mellon by 2.2% in the 2nd quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 5,094 shares of the bank’s stock worth $464,000 after acquiring an additional 112 shares during the last quarter. Sax Wealth Advisors LLC lifted its holdings in Bank of New York Mellon by 2.3% during the 1st quarter. Sax Wealth Advisors LLC now owns 5,278 shares of the bank’s stock worth $443,000 after buying an additional 117 shares in the last quarter. Hemington Wealth Management increased its position in shares of Bank of New York Mellon by 8.0% in the 1st quarter. Hemington Wealth Management now owns 1,628 shares of the bank’s stock valued at $136,000 after purchasing an additional 121 shares during the last quarter. Y.D. More Investments Ltd increased its position in shares of Bank of New York Mellon by 13.8% in the 1st quarter. Y.D. More Investments Ltd now owns 1,030 shares of the bank’s stock valued at $86,000 after purchasing an additional 125 shares during the last quarter. Finally, Resources Management Corp CT ADV increased its position in shares of Bank of New York Mellon by 5.9% in the 1st quarter. Resources Management Corp CT ADV now owns 2,260 shares of the bank’s stock valued at $190,000 after purchasing an additional 125 shares during the last quarter. Institutional investors own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on BK shares. Truist Financial increased their price objective on shares of Bank of New York Mellon from $100.00 to $109.00 and gave the company a “hold” rating in a research report on Thursday, August 14th. Wells Fargo & Company raised their price objective on shares of Bank of New York Mellon from $96.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 16th. TD Cowen began coverage on shares of Bank of New York Mellon in a research report on Thursday, September 25th. They set a “buy” rating on the stock. Evercore ISI lifted their target price on shares of Bank of New York Mellon from $91.00 to $110.00 and gave the company an “in-line” rating in a report on Tuesday. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Bank of New York Mellon from $105.00 to $113.00 and gave the company an “outperform” rating in a report on Wednesday, July 16th. Eight analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $100.92.

Bank of New York Mellon Stock Down 1.9%

Shares of NYSE:BK opened at $106.89 on Thursday. The stock has a market capitalization of $75.39 billion, a price-to-earnings ratio of 16.32, a price-to-earnings-growth ratio of 1.03 and a beta of 1.13. The Bank of New York Mellon Corporation has a 1-year low of $70.41 and a 1-year high of $110.87. The company’s fifty day moving average is $104.36 and its two-hundred day moving average is $92.60. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.72 and a current ratio of 0.72.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Tuesday, July 15th. The bank reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.21. Bank of New York Mellon had a net margin of 12.27% and a return on equity of 13.46%. The business had revenue of $4.77 billion for the quarter, compared to analysts’ expectations of $4.80 billion. During the same quarter last year, the company earned $1.51 EPS. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. Equities analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 7th. Shareholders of record on Friday, July 25th were issued a $0.53 dividend. The ex-dividend date was Friday, July 25th. This is a positive change from Bank of New York Mellon’s previous quarterly dividend of $0.47. This represents a $2.12 annualized dividend and a dividend yield of 2.0%. Bank of New York Mellon’s dividend payout ratio is 32.37%.

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $98.45, for a total value of $1,969,000.00. Following the completion of the transaction, the executive vice president directly owned 35,115 shares in the company, valued at $3,457,071.75. This trade represents a 36.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.14% of the stock is currently owned by insiders.

About Bank of New York Mellon

The Bank of New York Mellon Corporation provides a range of financial products and services in the United States and internationally. The company operates through Securities Services, Market and Wealth Services, Investment and Wealth Management, and other segments. The Securities Services segment offers custody, trust and depositary, accounting, exchange-traded funds, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, and data analytics.